Education Secretary Betsy DeVos was having a bad week when trying to defend the administrations proposed cut of $17.6 million from Special Olympics. We had to make some difficult decisions with this budget, DeVos responded when asked how many children would be affected. I think Special Olympics is an awesome organization that is well-supported by…
The corporate insolvency rules in Scotland change on 6 April, with two new sets of rules replacing the current regime for companies. They do not apply to limited liability partnerships (LLPs). The introduction of The Insolvency (Scotland) (Company Voluntary Arrangements and Administration) Rules 2018 and The Insolvency (Scotland) (Receivership and Winding up) Rules 2018 (together…
I wonder if I could ask you to change my diaper? The senior citizen home staff member to whom that plaintive request was addressed did not reply. He lowered his eyes. The elderly resident who had approached him sighed and withdrew. He might have insisted, but thought better of it. When the home, located in…
(Bloomberg) — A series of bankruptcy filings by major private-sector bond issuers in Chinas third-wealthiest province is shining a spotlight on aggressive efforts by local governments to manage unsustainable debt loads. Four debtors have entered bankruptcy procedures since the start of November in Dongying, a city of 2 million in the eastern province of Shandong…
Piper Alderman has attracted an insolvency and reconstruction expert in Melbourne. The national firm has welcomed Louise Thompson as special counsel, adding more than 15 years experience acting for a wide range of insolvency practitioners to the firm. She joins insolvency and reconstruction partners Michael Lheude and Joanne Hardwick in the Victorian capital. The appointment…
Simon Jordan says Bolton Wanderers prospective new buyer is EVEN WORSE than current owner Ken Anderson. English businessman Laurence Bassini wont have Boltons best interests in mind, according to the talkSPORT pundit, who added: just ask Watford fans. Former Watford owner Bassini was revealed as the man set to save Bolton from impending liquidation during…
Bolton have been granted a further stay of execution by the High Court, while controversial former Watford chairman Laurence Bassini has been confirmed as the clubs prospective buyer. The Sky Bet Championship outfit were back in court on Wednesday facing a winding-up petition over an unpaid tax bill but the case has…
In a welcome development, the Supreme Court on Tuesday declared as unlawful RBIs February 12, 2018 circular, which ordered banks to refer defaulting companies for insolvency proceedings if they missed repayments even one day beyond the 180-day grace period. The Bench led by Justice Rohinton Nariman said that in light of Section 35AA of the…
Bogen Communications International, Inc., (Pink Sheets: BOGN) announced its German subsidiary Speech Design GmbH (Speech Design) filed an application in Hamburg for preliminary insolvency proceedings on January 10, 2019. The court approved debtor-in-possession management of the business, in conjunction with an insolvency advisor retained by Speech Design and a court appointed preliminary insolvency custodian. On…
Indias supreme court has struck down tough central bank rules on corporate defaults that had been designed to address the banking industrys chronic bad loan problem. The Reserve Bank of India issued a directive in February last year ordering banks to declare a default on the first day of delayed loan repayments from large corporate…